Aperio Group LLC increased its stake in shares of Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,592 shares of the software maker’s stock after purchasing an additional 3,622 shares during the period. Aperio Group LLC owned 0.11% of Open Text Corporation worth $9,254,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in OTEX. Vanguard Group Inc. grew its stake in Open Text Corporation by 126.3% in the 1st quarter. Vanguard Group Inc. now owns 5,446,137 shares of the software maker’s stock worth $185,223,000 after acquiring an additional 3,039,282 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Open Text Corporation by 67.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,068,128 shares of the software maker’s stock worth $65,198,000 after acquiring an additional 832,902 shares during the period. Highstreet Asset Management Inc. grew its stake in Open Text Corporation by 331.1% in the 2nd quarter. Highstreet Asset Management Inc. now owns 539,152 shares of the software maker’s stock worth $17,026,000 after acquiring an additional 414,077 shares during the period. Fiera Capital Corp grew its stake in Open Text Corporation by 15.9% in the 2nd quarter. Fiera Capital Corp now owns 3,007,953 shares of the software maker’s stock worth $94,770,000 after acquiring an additional 411,920 shares during the period. Finally, Koch Industries Inc. grew its stake in Open Text Corporation by 4,756.9% in the 2nd quarter. Koch Industries Inc. now owns 351,497 shares of the software maker’s stock worth $341,000 after acquiring an additional 344,260 shares during the period. 66.28% of the stock is owned by hedge funds and other institutional investors.
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Shares of Open Text Corporation (NASDAQ:OTEX) opened at $34.48 on Friday. The company has a market cap of $9.04 billion, a PE ratio of 60.00 and a beta of 0.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.89 and a current ratio of 0.89.
Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) last posted its earnings results on Thursday, August 3rd. The software maker reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.07). The business had revenue of $663.60 million for the quarter, compared to analyst estimates of $662.36 million. Open Text Corporation had a net margin of 6.12% and a return on equity of 6.56%. The business’s revenue was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. analysts anticipate that Open Text Corporation will post 0.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, December 1st will be issued a dividend of $0.132 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.53 annualized dividend and a dividend yield of 1.53%. Open Text Corporation’s payout ratio is 92.98%.
Several research firms have commented on OTEX. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $40.00 target price on shares of Open Text Corporation in a research note on Monday, October 30th. TD Securities boosted their price objective on shares of Open Text Corporation from $38.00 to $51.00 and gave the company a “buy” rating in a research note on Friday. Barclays PLC boosted their price objective on shares of Open Text Corporation from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. BMO Capital Markets lowered their price objective on shares of Open Text Corporation from $40.00 to $38.00 in a research note on Friday. Finally, CIBC boosted their price objective on shares of Open Text Corporation from $41.00 to $42.00 in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Open Text Corporation currently has an average rating of “Buy” and a consensus target price of $42.78.
About Open Text Corporation
Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.
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